Basis: Latest reported fiscal year. Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 38.06 as of Saturday, July 25, 2026.
Forward PE Ratio (38.06) = Close Price ($482.66) / Consensus Forward EPS ($12.68)
FORWARD PE RATIO
38.06
SECTOR MEDIAN · COMMUNICATION SERVICES
16.40
median of 21 covered companies
CURRENT VS SECTOR MEDIAN
+132.07%
vs the sector median at left
Spotify Technology S.A.
Market Cap
$99.24B
Forward PE Ratio
38.06
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| Spotify Technology S.A. (SPOT) | $99.24B | 38.06 |
| Comcast Corporation (CMCSA)vs › | $79.12B | 6.41 |
| DoorDash, Inc. (DASH)vs › | $75.34B | 68.45 |
| Warner Bros. Discovery, Inc. (WBD)vs › | $64.61B | N/A |
| Live Nation Entertainment, Inc. (LYV)vs › | $41.25B | N/A |
| The Walt Disney Company (DIS)vs › | $164.71B | 13.93 |
| AT&T Inc. (T)vs › | $165.35B | 10.34 |
| Reddit, Inc. (RDDT)vs › | $32.48B | 34.08 |
| EchoStar Corporation (SATS)vs › | $25.33B | N/A |
| Fox Corporation (FOXA)vs › | $24.25B | 10.90 |
Trailing P/E
38.5
reported TTM EPS
Forward P/E
38.1
consensus next-FY EPS
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $12.68 implies +1.0% EPS growth vs the reported trailing $12.55.
At today's $482.66 close, each upcoming fiscal year's consensus EPS implies a different multiple — how quickly the price is "paid down" by expected earnings if the estimates hold.
| Fiscal year end | Consensus EPS | Estimate range | Analysts | Implied P/E |
|---|---|---|---|---|
| 2026-12-31 | $12.68 | $11.41 – $14.95 | 24 | 38.1x |
| 2027-12-31 | $15.79 | $13.99 – $19.80 | 23 | 30.6x |
| 2028-12-31 | $19.43 | $17.05 – $25.30 | 18 | 24.8x |
Source: FMP analyst consensus estimates, refreshed with the daily precompute. "n/m" = the consensus EPS is not positive, so a multiple is undefined. There is no forward P/E history chart here because charting one would require the estimates as they stood in the past, which we do not store — see the trailing P/E history for how the realized multiple has moved.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
